Santiago, Chile, is at the epicenter of a profound transformation in its decades-old pension system, a complex undertaking that seeks to balance individual savings, state support, and demographic realities. Amidst this seismic shift, AFP Capital has not only navigated the evolving regulatory landscape but has also distinguished itself as a leader in innovation, client trust, and investment performance. This recognition, highlighted by World Finance magazine, underscores the company’s strategic approach and its pivotal role in shaping the future of retirement security for over 1.4 million clients in Chile.
The international accolade serves as a powerful validation of AFP Capital’s unwavering commitment to its clients and its proactive stance in a rapidly changing market. Renzo Vercelli, CEO of AFP Capital, emphasizes that this recognition is a testament to the collective efforts of the entire team, whose dedication to innovation and client-centricity has forged a unique value proposition. "For us, it is a source of great pride," Vercelli states, "and this recognition validates the effort and dedication of the entire AFP Capital team, who work tirelessly, with innovation and focus, to build a very comprehensive and unique value proposition in the market, enabling us to advise our more than 1.4 million clients in building their pensions." This value proposition is meticulously crafted to empower individuals throughout their financial journeys, from wealth accumulation to retirement income distribution.
Chile’s pension reform, initiated this year, represents the most significant overhaul since the system’s inception. It endeavors to integrate individual capitalisation with an adjusted universal guaranteed pension provided by the state, incentivizing retirement savings through enhanced benefits, and introducing a generational fund regime. In this intricate environment, private sector administrators like AFP Capital are tasked with the crucial responsibility of operationalizing these reforms with precision and efficiency. Despite the extensive regulatory adjustments and the inherent complexities of implementing such a sweeping reform, AFP Capital has concurrently pursued the development of an innovative and forward-thinking value proposition for its clientele.
The cornerstone of AFP Capital’s competitive edge lies in its comprehensive advisory services. This approach prioritizes clear, accessible information and personalized attention, ensuring that each client fully comprehends their options and can make informed decisions. The company’s focus on making financial planning tangible and understandable throughout the accumulation and decumulation phases has resonated deeply with its client base. This client-centric strategy is demonstrably reflected in key performance indicators such as Net Promoter Score (NPS), overall service quality, and brand perception, all of which highlight a strong and growing client satisfaction.
Beyond its client advisory model, AFP Capital’s award-winning status is also attributed to its pioneering use of technology and innovative communication channels. The company’s unique Interactive Streaming system, designed for broad accessibility, engages a vast audience, including pension fund members, retirees, and market observers, reaching over four million individuals. This commitment to digital transformation extends to a suite of services that enhance accessibility and convenience. Remote video consultations, available nationwide, and an intuitive appointment scheduling system are designed to meet clients wherever they are. Furthermore, the company’s website is envisioned as a comprehensive digital branch, poised to become the primary interface for clients in the future. This dedication to service excellence is further cemented by AFP Capital’s achievement of ISO 9001 and ISO 10002 certifications for the third consecutive year. These international standards attest to the superior quality of its customer service model and its robust capacity for effectively resolving complaints and inquiries. Notably, AFP Capital stands as the sole pension fund administrator in Chile to hold this dual certification, a distinction that underscores its continuous pursuit of strengthening service channels and delivering a truly people-centered experience.
Investment performance is another critical pillar supporting AFP Capital’s distinguished position. For the past 60 months, the company’s managed pension funds have consistently outperformed industry averages. This sustained superior return is a direct result of the expertise and strategic acumen of its highly experienced team of portfolio managers, who skillfully navigate diverse asset classes. This consistent financial stewardship provides members with greater confidence in the growth and security of their retirement savings.
The international recognition has a tangible impact on AFP Capital’s relationship with its members. It serves not only as an internal benchmark of achievement but also as a powerful reinforcement of the trust that clients place in the company to safeguard their financial futures. This validation acts as a catalyst, compelling AFP Capital to continually enhance its services, foster further innovation, and respond to the evolving needs of its clients with unwavering responsibility and empathy.
Looking ahead, Chile faces significant demographic challenges that directly impact the pension system. The 2024 Population and Housing Census revealed a clear trend of an aging population. The proportion of individuals aged 65 and over has more than doubled since 1992, rising from 6.6 percent to 14 percent. Concurrently, the younger demographic, under 14 years old, has decreased from 29.4 percent to 17.7 percent. These demographic shifts necessitate a fundamental reevaluation of societal structures and long-term planning, with pensions standing as a prominent and visible consequence. While the current pension reform aims to mitigate some of these challenges, further adjustments are likely required. The current retirement ages of 65 for men and 60 for women are increasingly misaligned with rising life expectancies. Addressing this complex issue, often deemed politically sensitive, is inevitable. AFP Capital recognizes the imperative to tackle the persistent challenge of low contribution density by actively promoting a robust culture of long-term savings and advocating for a more formal labor market.
AFP Capital’s projections following this significant recognition are ambitious and forward-looking. The award serves as a powerful impetus to intensify its pursuit of excellence. The company plans to continue substantial investments in cutting-edge technology, ongoing professional development for its staff, and the continuous enhancement of service quality. As an integral part of SURA Asset Management, a leading Latin American pension fund manager overseeing more than 23 million clients, AFP Capital is strategically positioned to contribute to its shareholder’s leadership across the region. From its base in Chile, the company aims to drive innovation, maintain close client relationships, and deliver solid, profitable results. The international spotlight cast by World Finance is viewed not just as an honor but as a global endorsement, encouraging AFP Capital to further solidify trust and excellence within Chile’s pension fund industry, building upon its demonstrated strengths and successes.
